Trifecta Capital Advisors LLC Has $495,000 Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Trifecta Capital Advisors LLC lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 9.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,946 shares of the medical equipment provider’s stock after selling 210 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Align Technology were worth $495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SageView Advisory Group LLC boosted its position in shares of Align Technology by 101.9% during the fourth quarter. SageView Advisory Group LLC now owns 1,393 shares of the medical equipment provider’s stock worth $369,000 after buying an additional 703 shares during the period. HighPoint Advisor Group LLC bought a new position in shares of Align Technology during the 4th quarter worth approximately $348,000. Nomura Holdings Inc. bought a new position in shares of Align Technology during the 4th quarter worth approximately $1,197,000. CWM LLC raised its holdings in shares of Align Technology by 18.2% in the first quarter. CWM LLC now owns 3,803 shares of the medical equipment provider’s stock valued at $1,247,000 after purchasing an additional 585 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Align Technology by 76.5% in the first quarter. Los Angeles Capital Management LLC now owns 4,721 shares of the medical equipment provider’s stock worth $1,548,000 after purchasing an additional 2,046 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALGN. Needham & Company LLC started coverage on shares of Align Technology in a research report on Thursday, October 10th. They issued a “hold” rating for the company. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Piper Sandler lowered their target price on Align Technology from $315.00 to $285.00 and set an “overweight” rating on the stock in a research report on Thursday. Robert W. Baird reduced their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, Stifel Nicolaus decreased their price target on Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $291.25.

Insider Activity

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.

Align Technology Stock Down 0.0 %

Shares of NASDAQ ALGN opened at $216.02 on Friday. The business’s 50 day moving average price is $234.48 and its two-hundred day moving average price is $254.22. The company has a market cap of $16.26 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $1.73 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.